In the ever-evolving world of cryptocurrencies, XRP is making headlines once again. The digital asset, known for its volatile price swings and passionate community, is currently knocking on the door of a significant resistance level. According to The Great Mattsby (@matthughes13), a well-respected crypto analyst, XRP is poised for a potential price explosion—if it can successfully breach the $3.10 mark.
The $3.10 Resistance: A Crucial Threshold
XRP is currently challenging a formidable resistance level at $3.10, a point that has historically capped price advances. Mattsby, in his recent video analysis, highlighted this level as the 2.272 Fibonacci extension derived from price movements between late 2013 and mid-2014. This extension has not only served as a historical ceiling but also marked the top during XRP’s 2018 rally. It’s a line on the chart that many traders are watching closely.
Mattsby points out that despite XRP’s frequent attempts, it has never closed a monthly candle above this $3.10 level. However, he suggests that breaking through could set the stage for a significant rally, potentially catapulting XRP to $9 or beyond. “The next level is $9,” he states, suggesting that surpassing this resistance might be just a matter of time.
Technical Indicators Signal Potential
The analysis doesn’t stop at Fibonacci levels. Mattsby also delves into other technical indicators that have been supporting XRP’s current price action. He notes the importance of the Ichimoku trend support, which XRP has been riding since breaking out in November last year. The conversion line, around $2.63, has acted as a reliable support, with no monthly candles closing beneath it—a bullish sign in Mattsby’s view.
On the weekly chart, the 50-week simple moving average is another critical element. Currently near $2.37, this moving average has yet to be tested by XRP since its breakout. Mattsby sees this as a testament to the asset’s strength, as it suggests a consolidation phase that maintains an upward trajectory.
Constructive Market Structure
Mattsby’s optimism doesn’t solely hinge on technical indicators; he also identifies a broader market structure that he describes as constructive. XRP has transitioned from resistance to support across multiple market cycles, a shift he finds unprecedented for the cryptocurrency. “This is the previous resistance zone… now this box we are actually just flipping it to support,” he explains, emphasizing the bullish implications of this structural shift.
The analyst is keen on the concept of a breakout retest—where old resistance becomes new support—and sees XRP as building a base at elevated levels. “This has never happened for XRP,” he asserts, highlighting the significance of the current market setup.
What’s Next for XRP?
While Mattsby is bullish, he doesn’t dismiss potential bumps in the road. He acknowledges the possibility of further consolidation, with prices dipping into the $2.80s or $2.70s. However, he views these movements as part of a larger bullish trend rather than cause for concern. “It’s not if, it is when,” he confidently states about the eventual breach of the $3.10 resistance.
His roadmap for XRP investors is straightforward: maintain the long-term trend, watch the key support levels, and wait for a decisive monthly close above $3.10. If this happens, Mattsby believes that the next Fibonacci target at $9 could come into play, with even higher levels possible.
Balancing Optimism with Caution
While Mattsby’s analysis paints a promising future for XRP, it’s essential to approach such predictions with a balanced perspective. The crypto market is notoriously unpredictable, and past performance is no guarantee of future results. Investors should consider not only the potential for gains but also the inherent risks involved.
Nevertheless, the technical indicators and market structure identified by Mattsby provide a compelling case for XRP’s potential rise. As of press time, XRP is trading at $2.99, tantalizingly close to the critical $3.10 mark. Whether it can break through remains to be seen, but for now, all eyes are on XRP and its next move.
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
